‘Makatleho Khotle
BASOTHO have been urged to develop sound financial habits, invest wisely and work collectively to build lasting wealth.
The call was made at the Phuthalichaba Investment and Wealth Creation Summit, held at Victory Hall in Maseru this past weekend. The event brought together members of the Phuthalichaba Savings and Credit Cooperative Society (PSCCS) and members of the public to explore ways of improving their financial well-being.
Held under the theme “Learn. Invest. Build Wealth”, the summit featured financial experts Advocate Mary Bosiu, also known as the Financial Wisdom Coach, and Tebello Tjapela, the founder and chief executive officer of PSCCS. Financial Wellness Coach Mohau Mosoeunyane also addressed the gathering.
Mr Mosoeunyane encouraged people to put their financial affairs in order while they were still young and energetic enough to build a secure future. He described financial discipline as an expression of self-love, urging attendees to take responsibility for their financial well-being.
He also highlighted the benefits of collective investment, saying efforts made together could multiply returns and create shared prosperity for those involved.
Comedian Bofihla “Lilaphalapha” ‘Neko, who served as master of ceremonies, kept the audience entertained while using humour to simplify some of the economic concepts discussed at the summit, including PSCCS’s plans and ambitions.
Adv Bosiu told attendees that lasting wealth could be built on four fundamental principles, which she said were within the reach of ordinary salary earners.
The first was investing in personal education, particularly by acquiring financial knowledge to inform sound money-management decisions. The second was paying oneself first by setting aside 10 percent of one’s salary before meeting other expenses.
She also encouraged regular saving to turn present income into future financial security, while urging people to delay gratification by resisting unnecessary spending in favour of long-term benefits.
Together, she said, these habits provided a foundation for sustainable personal financial management and wealth creation.
Mr Tjapela, widely regarded as the architect of the Phuthalichaba investment model, delivered a two-hour presentation outlining how Basotho could work towards establishing their own bank.
He explained how members and the wider public could contribute to this ambition by participating in the various subsidiary ventures under the Phuthalichaba portfolio. Each venture, he said, played a role in building a broader investment ecosystem.
The presentation gave attendees insight into how the different components of the ecosystem worked together and how individuals could participate in and benefit from the opportunities they offered to build generational wealth.
Organisers said the summit had two main objectives: to strengthen investment knowledge and equip participants with practical tools for personal financial management and wealth creation, and to deepen public understanding of the Phuthalichaba ecosystem.
The event was held under the banner “Phuthalichaba Keeps on Giving!” and the message “Unity for Growth”, reflecting the cooperative’s emphasis on collective progress and shared prosperity.
Founded in 2019, PSCCS operates under the National University of Lesotho (NUL) Innovation Hub. It was established to promote a culture of saving, improve access to finance, provide innovative banking services and invest in promising start-up businesses.
The cooperative finances and acquires stakes in developing start-ups affiliated with the NUL Innovation Hub, as well as businesses established elsewhere.
According to the organisation, any resident of Lesotho with a bank account can join the cooperative, regardless of where they live in the country.
PSCCS also operates a paperless system, conducting transactions electronically through partner banks. The approach allows transaction records to be securely stored and traced, strengthening accountability while enabling members to participate in the cooperative’s activities from anywhere in Lesotho.
Through this model, the organisation seeks to broaden financial inclusion and create opportunities for Basotho to save, invest and build wealth collectively.
